Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
An assessee governed by section 10(23C)(iv) could not be denied exemption for non-filing of Form 10B because the applicable audit report was Form 10BB. The Tribunal noted that exemption had been consistently claimed and allowed in preceding and succeeding years on the same basis, making the denial premised on Form 10B erroneous. On that footing, no valid basis existed to refuse exemption, so the lower authorities' orders were set aside and the AO was directed to allow the claim.
An assessee governed by section 10(23C)(iv) could not be denied exemption for non-filing of Form 10B because the applicable audit report was Form 10BB. The Tribunal noted that exemption had been consistently claimed and allowed in preceding and succeeding years on the same basis, making the denial premised on Form 10B erroneous. On that footing, no valid basis existed to refuse exemption, so the lower authorities' orders were set aside and the AO was directed to allow the claim.
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